https://s201.q4cdn.com/120347489/files/doc_news/2023/08/2023-08-08-Talos-Enegy-Press-Release-Second-Quarter-2023-Earnings-Release-vFINAL.pdf
However,
Key Highlights:
Drilled a successful commercial discovery at the Talos-operated Sunspear prospect.
Announced a transaction with Grupo Carso, selling a 49.9% interest in Talos Energy Mexico 7, S. de R.L. de C.V. (“Talos Mexico”),
a wholly-owned subsidiary of the Company, which holds a working interest in the Zama project, for approximately $125 million.
Filed first EPA Class VI permit for carbon sequestration, with at least one additional permit expected to be filed by year-end.
Continue to explore a capital raise for the Company’s Talos Low Carbon Solutions (“TLCS”) platform.
Repurchased 1.5 million shares of common stock for $20.9 million at an average price of $13.89 per share.
Second Quarter Summary:
Production of 70.3 thousand barrels of oil equivalent per day (“MBoe/d”) (75% oil, 83% liquids).
Revenue of $367.2 million, driven by realized prices (excluding hedges) of $71.44 per barrel for oil, $16.25 per barrel for natural
gas liquids ("NGLs"), and $2.46 per thousand cubic feet ("Mcf") for natural gas.
Net Income of $13.7 million, or $0.11 Net Income per diluted share, and Adjusted Net Income (1) of $11.5 million, or $0.09 Adjusted
Net Income per diluted share.
Upstream Adjusted EBITDA(1) of $253.6 million.
Capital expenditures of $191.2 million, inclusive of plugging and abandonment and Carbon Capture & Sequestration (“CCS”).
Net cash provided by operating activities of $214.2 million.
Adjusted Free Cash Flow(1) of $12.9 million.